Aaron Wealth Advisors LLC Takes $205,000 Position in Synopsys, Inc. (NASDAQ:SNPS)

Aaron Wealth Advisors LLC bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPSFree Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 398 shares of the semiconductor company’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cibc World Market Inc. boosted its stake in Synopsys by 58.8% in the first quarter. Cibc World Market Inc. now owns 11,893 shares of the semiconductor company’s stock valued at $3,964,000 after acquiring an additional 4,402 shares during the last quarter. Prudential PLC bought a new position in Synopsys during the first quarter valued at $993,000. Sequoia Financial Advisors LLC purchased a new stake in Synopsys in the first quarter worth $240,000. Covestor Ltd raised its stake in shares of Synopsys by 18.9% in the first quarter. Covestor Ltd now owns 271 shares of the semiconductor company’s stock valued at $90,000 after buying an additional 43 shares during the period. Finally, Mather Group LLC. lifted its position in shares of Synopsys by 64.4% during the 1st quarter. Mather Group LLC. now owns 1,680 shares of the semiconductor company’s stock valued at $560,000 after buying an additional 658 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SNPS shares. Robert W. Baird boosted their price objective on Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $615.00 price target on shares of Synopsys in a research report on Thursday, March 21st. Piper Sandler began coverage on shares of Synopsys in a research note on Thursday, April 4th. They set an “overweight” rating and a $665.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and set a $660.00 target price on shares of Synopsys in a report on Friday, March 22nd. Finally, StockNews.com raised Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $601.00.

View Our Latest Analysis on Synopsys

Insiders Place Their Bets

In other news, insider John F. Runkel, Jr. sold 5,319 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the sale, the insider now owns 20,000 shares in the company, valued at approximately $11,587,400. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Marc N. Casper bought 750 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was bought at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the transaction, the director now directly owns 1,736 shares of the company’s stock, valued at approximately $1,016,341.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John F. Runkel, Jr. sold 5,319 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the completion of the sale, the insider now owns 20,000 shares of the company’s stock, valued at $11,587,400. The disclosure for this sale can be found here. Insiders sold a total of 26,832 shares of company stock valued at $15,464,992 in the last quarter. Corporate insiders own 0.66% of the company’s stock.

Synopsys Stock Performance

NASDAQ:SNPS opened at $561.97 on Friday. The firm has a market capitalization of $85.70 billion, a price-to-earnings ratio of 61.89, a P/E/G ratio of 3.28 and a beta of 1.06. The stock has a fifty day moving average of $569.73 and a 200 day moving average of $530.43. Synopsys, Inc. has a 52-week low of $360.36 and a 52-week high of $629.38.

Synopsys (NASDAQ:SNPSGet Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.43 by $0.13. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. Synopsys’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.75 earnings per share. Equities analysts forecast that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Synopsys Profile

(Free Report)

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.

See Also

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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